For the quarter ending 30 June, the company recorded net income of US$281.8 million on sales of US$2.3 billion. In the same quarter last year, the company posted a profit of US$174.3 million on sales of US$1.9 billion. 

The company attributed the gains to slightly higher shipments and better margins brought about by higher realized prices in all of its markets. 

Although shipments rose 1% quarter over quarter to 2.64 million tons, they increase was enough to push volumes into record territory, Ternium said. However, it doesn’t expect to repeat that volume in the third quarter due to a seasonal decline in Mexico. 

Still, market fundamentals remain healthy in North America, it said, with steady end-user demand, adequate steel inventories and a capacity utilization rate above the 75% mark. 

"Ternium expects these factors to be supportive for steel prices in the region," it said. 

In Argentina, it said signals are pointing toward a strong second half.  

“Good operating conditions in the agribusiness industry, a pick-up in public infrastructure investment and the gradual deployment of resources for the development of shale oil and gas fields by local and international oil companies are fostering an increase in steel demand,” it said. “The company believes these developments could support a 10% growth in flat steel consumption in Argentina in 2017.”